Output cuts halt nickel price fall, more mine closures needed

miércoles 16 de marzo de 2016 08:09 GYT

* GRAPHIC: Nickel prices vs stocks link.reuters.com/vaq25w

* Eramet shares vs nickel price reut.rs/1RjPL0z

* Nickel price and market balance forecasts

* Prolonged slump will force mines to close

* Benchmark LME nickel seen in $7,500-$10,000/T range

* Demand for stainless steel stable, but sluggish

By Louise Heavens

LONDON, March 16 (Reuters) - Nickel's freefall may have halted as output cuts move the chronically oversupplied market towards deficit, but prices are unlikely to recover sharply unless more loss-making mines close.

Prices for the metal used to make stainless steel have crashed more than 40 percent since the start of 2015 on rising stockpiles and weak Chinese demand, leaving around 70 percent of producers losing money, according to consultants at CRU Group.   Continuación...